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Handbook of Computable General Equilibrium Modeling - 1st Edition - ISBN: 9780444536341, 9780444536358

Handbook of Computable General Equilibrium Modeling, Volume 1A

1st Edition

Editors: Peter Dixon Dale Jorgenson
eBook ISBN: 9780444536358
Hardcover ISBN: 9780444536341
Imprint: North Holland
Published Date: 14th November 2012
Page Count: 888
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Table of Contents

Section 1. Overview

1. An introduction to CGE modeling

Peter B. Dixon and Dale W. Jorgenson

Section 2. Single-Country CGE Projects

2. The MONASH style of CGE modeling: a framework for hisorical, decomposition, forecast and policy simulations

Peter B. Dixon, Robert B. Koopman and Maureen T. Rimmer

3. CGE assessments of fiscal sustainability in Norway

Erling Holmoy

4. MAMS - a Computable General Equilibrium Model for Developing Country Strategy Analysis

Hans Lofgren, Martin Cicowiez and Carolina Diaz-Bonilla

5. The contribution of CGE modeling to policy formulation in developing countries

Sherman Robinson and Shantayanan Devarajan

6. Putting services and foreign direct investment into CGE models: reflections on the use of CGE models in policy discussions

David Tarr

7. Regional CGE Modeling

John R. Madden and James A. Giesecke

8. IGEM: a model of U.S. economic growth and the environment

Dale W. Jorgenson, Peter Wilcoxen and Mun Ho

9. Energy and Environment Modeling in Australia

Philip D. Adams and Brian R. Parmenter

10. Tax reform, the cost of capital, and U.S. economic growth

Dale W. Jorgenson and Kun-Young Yun

11. Dynamic overlapping generations computational general equilibrium models and the analysis of tax policy

John W. Diamond and George R. Zodrow

Section 3. Global CGE Projects

12. Applied General Equilibrium Analysis using the GTAP Framework

Thomas Hertel

13. Estimating effects of price-distorting policies using alternative distortions databases

Kym Anderson, Will Martin and Dominique van der Mensbrugghe

14. Global Dynamic Scenarios—Structural and Environmental Implications

Dominique van der Mensbrugghe

15. Energy and environment, a global approach: G-cubed

Warwick J. McKibbin

16. Integrated economic and climate modeling

William Nordhaus

Section 4. CGE Data, Parameter Estimation, Validation and Computation

17. An econometric approach to general equilibrium modeling

Dale W. Jorgenson, Hui Jin and Daniel T. Slesnick

18. Trade Elasticity Parameters for a CGE Model

Russell Hillberry and David Hummels

19. Validation of CGE models

Peter B. Dixon and Maureen T. Rimmer

20. Solution Software for CGE Modeling

Mark Horridge, Alex Meeraus, Ken Pearson and Thomas F, Rutherford

Section 5. Advancing CGE Methodology

21. Income distribution and Computable General Equilibrium models: macro- micro modelling

Francois Bourguignon and Maurizio Bussolo

22. The New Keynesian approach to dynamic general equilibrium modeling: models, methods and macroeconomic policy evaluation

Volker Wieland and Sebastian Schmidt

23. Computing general equilibrium theories of monopolistic competition and heterogeneous firms

Edward J. Balistreri and Thomas F, Rutherford

24. Market Structure in CGE Models of International Trade

Joseph Francois, Miriam Manchin and Will Martin

25. CGE modeling of trade in services

Joseph Francois and Bernard Hoekman

26. Labor market modeling in a CGE context

Stefan Boeters and Luc Savard

27. Aging and social insurance in a CGE framework (provisional title)

Laurence Kotlikoff, Hans Fehr and Sabine Jokisch


In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view.

Key Features

  • Presents coherent summaries of CGE theories that inform major model types
  • Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results
  • Shows how CGE modeling has made a contribution to economic policy


Graduate students and professors worldwide working in all subdisciplines of economics and finance.


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© North Holland 2012
14th November 2012
North Holland
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"The chapters in this volume address many of the most challenging economic policy issues facing both developed and developing countries and regions. The book is required reading for anyone wishing to understand the power and range of computable general equilibrium modelling as an input to strategy analysis and policy making."

--Larry Dwyer,  University of New South Wales

"The rich CGE applications presented in this volume show that CGE modeling is a vital tool for policy analysis.  These chapters will be valuable resources for students and scholars who are interested in new insights and developments."

--Jian Xie, The World Bank

"This volume is a clearly written, comprehensive review of the state of the art in CGE modeling, and will be of great value both to those who do CGE modeling and those who use CGE model results for policy analysis and evaluation."

--David G. Abler, Pennsylvania State University

Ratings and Reviews

About the Editors

Peter Dixon

Sir John Monash Distinguished Professor, Centre of Policy Studies, Monash University, Australia

Affiliations and Expertise

Professor and Principal Researcher, Centre of Policy Studies, Monash University, Victoria, Australia

Dale Jorgenson

Professor of Economics, Harvard University, Cambridge, Mass USA

Affiliations and Expertise

Professor of Economics, Harvard University, Cambridge Mass USA